Intellectual Capital and Its Impact on Financial Performance: A Study of Oil and Gas Sector of Pakistan

• Autorzy: Muhammad Arslan , Rashid Zaman
• Języki publikacji: EN

Abstrakty

EN

The study examines the Intellectual Capital (IC) performance of oil and gas sector of Pakistan over the period of 2007 to 2011 and its impact on corporate financial returns. The study uses value added intellectual coefficient (VAICit™) to measure IC performance and its various components of VAICit™ like (HCEit, SCEit and CEEit) and its impact on financial performance (ROEit, ROIit and EPSit). Micro panel data of oil and gas sector registered in KSE-100 index is collected from their consolidated annual reports over the period of 2007 to 2011. The IC performance is measured by Ante Pulic Model (VAICit™) and its effect on corporate returns (ROEit, ROIit and EPSit) is tested by Random Effect Model estimation. Hausman test suggests that study accepts null hypothesis (Chi2. Prop > 0.05) where for ui is uncorrelated with regressor means that random effect is preferred versus alternative fixed effect in all the proposed research models. The study reveals that VA is considered an important component for measuring the VAICit™ performance and it has positive and significant relationship with firm's profitability (EPSit) and HCEit and SCEit have positive and significant relationship with firm's financial performance (ROEit and ROIit) respectively. So, this study explores that Intellectual Capital Efficiency (ICE) has relatively larger contribution for measuring the VAICit™ performance where HCEit and SCEit execute substantive role to accelerate the financial performance of oil and gas sector of Pakistan as compare to tangible assets. (original abstract)

Słowa kluczowe

EN

Intellectual capital; Financial performance; Fuel industry; Oil; Natural gas

PL

Kapitał intelektualny; Wynik finansowy; Przemysł paliwowy; Ropa naftowa; Gaz ziemny

• Czasopismo: International Letters of Social and Humanistic Sciences (ILSHS)
• Rocznik: 2015
• Tom: 2 (1)
• Strony: 125--140

Twórcy

autor

Muhammad Arslan

• Bahria University Islamabad, PO box 44000, E-8, Islamabad, Pakistan

autor

Rashid Zaman

• Bahria University Islamabad, PO box 44000, E-8, Islamabad, Pakistan

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